We are extra conscientious regarding accounting details.
As rental property managers it is our duty to reconcile every cent of rent and each expense. Our team work hard to ensure that each rental investor has the opportunity to see exactly where is income is going to and coming from. To accomplish this duty we use one of the most powerful software tools in our profession: Rent Manager.
We usually process and deposit rents on the same day they are received. Rents are deposited into an escrow account (not into our operating account). We prepare a monthly statement that states the rental income as well as any expenses which we have paid on the property owner's behalf. The monthly statement is also available electronically. The monthly statement will show what reserves we are holding on behalf of the real estate investor.
There is no additional charge for the reports or the accounting. Not to mention, Nesbitt Realty never pads the price on the repairs, nor do we charge a fee per repair. Annually, we compile the monthly statements into a year-end report. In January we mail the landlords, and to the IRS, a 1099 stating the income for the property. Use the 1099 to prepare your taxes or simply hand the 1099 to your tax preparer.
Olney Park Property Management Resources
Basics
Basic info regarding rental managment in Olney Park.
Getting Started
Learn more about getting started with property management
Find A Tenant
List your property to rent to find a great tenant in Olney Park fast.
Accounting
How does Nesbitt Realty keep track of income and expenses for property owners?
Cost
A list of fees associated with property management services in Olney Park
Vetting
How Nesbitt Realty checks the backgrounds of tenants for property owners.
Reserves
What is a contingency reserve account?
Territory
Where does Nesbitt Realty manage rentals?
Clients
Who uses Nesbitt Realty management services?
Your investment in real estate is a business like any other. As a landlord, you have expenses, income and with perseverance, you also have the expectation of financial reward.
In the business of real estate investment, nearly all cashflow comes from tenants. And that's the catch: If you have tenants, you will have problems. Even the best of tenants have needs and all properties will require maintenance or management at some point. A property management company takes all the hassle out of rental management.
Do you need understand more about our local real estate market?
Nesbitt Realty's Guide to Real Estate is a handy resource for anyone who needs to review important real estate information about Olney Park and neighboring communities. The Guide to Real Estate includes data regarding what has sold and what is for sale, as well as some interesting facts that you might not be aware of. Not to mention, our Guide spotlights many of the fundamentals of residing in Olney Park. Certainly, all of this is helpful for buyers and sellers, but landlords and renters will also find this data to be very informative.